Prinkle Corporation purchased equipment for $60,000 on January 1, 2016. On December 31, 2018, the equipment was sold for $28,000. Accumulated Depreciation as of December 31, 2018 was $31,000.

Calculate gain or loss on the sale.

A) $1,000 gain

B) $1,000 loss

C) $31,000 loss

D) no gain no loss